Capitulation: Yen Plunges, Nikkei Soars After BOJ's Uchida Says "Will Not Raise Rates When Markets Are Unstable"
It hasn't been even a full week since the BOJ's catastrophic decision to hike rates by 25bps in a slowing, deflating economy, a decision which we said the BOJ would make for purely political reasons, yet which touched on in our preview last week....
US Dollar Rolls Through Markets, Fueled By Gains Against Yen
The US Dollar recovers as all asset classes start to head back to more normal levels.
USDJPY Recovering, Nears 148 Level
USDJPY has accelerated its recovery towards the 148 level as the Bank of Japan stated that there will be no interest rate hikes at this time of market instability.
USD/CAD Price Analysis: Upbeat Data Lifts Canadian Dollar
Data from Canada revealed an unexpected trade surplus of C$638 million in June. Canada’s services PMI edged higher from 47.1 to 47.3 in July. Oil prices rose on Wednesday as focus shifted to the escalating Middle East tensions.